Latest news with #EmaarMisrforDevelopment
Middle East
7 days ago
- Business
- Middle East
OPEN// State keen on encouraging tourism investments, esp. on North Coast
NEW ALAMEIN, Egypt, Aug 2 (MENA) - The State is keen on encouraging tourism investments, especially on the North Coast, a unique part of Egypt, which helps promote opportunities for tapping into the promising potential and advantages of this region and turning it into a tourist and economic hotspot all year round, Prime Minister Mostafa Madbouli said. Madbouli made the remarks while participating in the opening ceremony a new hotel of Emaar Misr for Development, a leading real estate developer, in Marassi North Coast resort, in the presence of Mohamed Alabbar, founder of Dubai-based real estate developer Emaar Properties. As the 11th hotel in Marassi portfolio, the new "Palace Beach Resort Marassi," hotel was established with an estimated investment cost of EGP 9 billion, marking a new milestone in Emaar Misr's 18-year journey in the Egypt. The inauguration of the new hotel is the latest move in Emaar Misr development's strategy to redefine the concept of luxury tourism by offering hotel experiences on par with major international destinations. This step has been taken amid the rapid recovery of Egypt's tourism industry, buoyed by the State' vision to enhance its position on the global tourism map by combining the country's rich history with diverse natural environment and ongoing infrastructure development. Emaar Misr for Development continues to play a prominent role in supporting this industry by offering integrated projects that meet the highest standards of luxury, especially in the North Coast region, which has become one of the most luxurious tourist destinations in Egypt. Occupying an area of about 140,000 square meters, the new hotel features 87 rooms and suites with striking views, as well as 31 luxury villas, along with a wide range of integrated facilities and services, including a meeting room, beach restaurant, gym, swimming pool, spa, and beauty salon, offering an integrated accommodation experience with world-class standards. (MENA) M A A/R G E
Egypt Independent
03-08-2025
- Business
- Egypt Independent
State keen on encouraging tourism investments, esp. on North Coast
NEW ALAMEIN, Egypt, Aug 2 (MENA) – The State is keen on encouraging tourism investments, especially on the North Coast, a unique part of Egypt, which helps promote opportunities for tapping into the promising potential and advantages of this region and turning it into a tourist and economic hotspot all year round, Prime Minister Mostafa Madbouly said. Madbouly made the remarks while participating in the opening ceremony a new hotel of Emaar Misr for Development, a leading real estate developer, in Marassi North Coast resort, in the presence of Mohamed Alabbar, founder of Dubai-based real estate developer Emaar Properties. As the 11th hotel in Marassi portfolio, the new 'Palace Beach Resort Marassi,' hotel was established with an estimated investment cost of LE nine billion, marking a new milestone in Emaar Misr's 18-year journey in the Egypt. The inauguration of the new hotel is the latest move in Emaar Misr development's strategy to redefine the concept of luxury tourism by offering hotel experiences on par with major international destinations. This step has been taken amid the rapid recovery of Egypt's tourism industry, buoyed by the State' vision to enhance its position on the global tourism map by combining the country's rich history with diverse natural environment and ongoing infrastructure development. Emaar Misr for Development continues to play a prominent role in supporting this industry by offering integrated projects that meet the highest standards of luxury, especially in the North Coast region, which has become one of the most luxurious tourist destinations in Egypt. Occupying an area of about 140,000 square meters, the new hotel features 87 rooms and suites with striking views, as well as 31 luxury villas, along with a wide range of integrated facilities and services, including a meeting room, beach restaurant, gym, swimming pool, spa, and beauty salon, offering an integrated accommodation experience with world-class standards. (MENA)
Zawya
03-03-2025
- Business
- Zawya
Emaar Misr records $304mln consolidated profits in 2024
Cairo – Emaar Misr for Development generated consolidated net profits after tax valued at EGP 15.40 billion in 2024, an annual hike from EGP 6.81 billion. Basic and diluted earnings per share (EPS) recorded EGP 3.31 last year, up from EGP 1.44 in 2023, according to the financial results. The EGX-listed firm achieved revenues worth EGP 19 billion as of 31 December 2024, higher year-on-year (YoY) than EGP 15.09 billion. Standalone Business Emaar Misr registered EGP 12.37 billion in net profit after income tax during the January-December 2024 period, compared to EGP 6.78 billion in 2023. Non-consolidated EPS climbed to EGP 2.64 in 2024 from EGP 1.43 at the end of December 2023. In the first nine months (9M) of 2024, the development company witnessed higher consolidated net profits at EGP 10.34 billion, compared to EGP 4.98 billion in 9M-23. Source: Mubasher
Zawya
27-02-2025
- Business
- Zawya
Emaar Misr sees 126.1% higher consolidated profits in 2024
Arab Finance: Emaar Misr for Development's consolidated net profits attributable to the parent company hiked by 126.14% to EGP 15.404 billion in 2024 from EGP 6.811 billion in 2023, as per the financial results. Revenues amounted to EGP 19 billion last year, higher than EGP 15.095 billion in 2023. Basic and diluted earnings per share (EPS) increased to EGP 3.31 in 2024 from EGP 1.44 a year earlier. Meanwhile, the standalone net profits after tax climbed to EGP 12.374 billion at the end of December 2024 from EGP 6.781 in 2023. Non-consolidated EPS jumped to EGP 2.64 from EGP 1.43. In the first nine months of 2024, the group's consolidated net profits after tax increased by 107.39% to EGP 10.344 billion from EGP 4.988 billion in the year-ago period © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
11-02-2025
- Business
- Zawya
Emaar Misr's Sky Tower partners with Golden Coast for Red Sea tourism project
Sky Tower for Real Estate Development, in which Emaar Misr for Development holds a stake, has signed a strategic partnership agreement with Golden Coast Company, as per a bourse filing. Under the deal, the two companies will develop a fully integrated tourism project in the Red Sea. Established in 2007, Emaar Misr is engaged in real estate development operations. It developed distinguished gated communities across the most premium and most beautiful destinations in Egypt: Uptown Cairo in the heart of Cairo, Mivida in New Cairo, Marassi in the North Coast, and Cairo Gate in the West of Cairo. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
